> ## Documentation Index > Fetch the complete documentation index at: https://docs.palliora.org/llms.txt > Use this file to discover all available pages before exploring further. # Private Sub-accounts A Private Sub-account lets you trade perpetuals on Hyperliquid with private funding. You move money from your shielded balance into a fresh trading account that is not linked to you. You then trade from it directly. ## What is private and what is not **Private funding of a public position. Not a private position.** Size, direction, entry price, leverage and liquidation price are public on Hyperliquid. They stay attached to the Sub-account's address for good. What is hidden is the link between that address and you. How well it stays hidden depends on the pool. The Sub-account is only as anonymous as the group of people moving similar amounts through the pool at similar times. See the [Privacy model](https://docs.palliora.org/defi/learn/concepts/privacy-model.md). ## How it works ![Five steps. One: you fund a new Private Sub-account from your shielded balance with an adaptor call. Two: the money arrives in the Sub-account's Hyperliquid account. Three: the Sub-account signs its own orders with isolated margin. Four: you close the position and move the money back to HyperEVM. Five: the Sub-account deposits it into your main shielded address.](https://mintcdn.com/palliora-68b00066/0eR8FAfvFmmdr-fi/images/private-sub-account-flow-light.svg?fit=max\&auto=format\&n=0eR8FAfvFmmdr-fi\&q=85\&s=0561c5b667bcab16923966a55bdc462d) 1. **Fund.** You ask the app to open a position. It derives a new Private Sub-account and sends USDC to it from your shielded balance, in one shielded adaptor call. A relayer submits the call. The adaptor deposits the USDC into the Sub-account's Hyperliquid account through Circle's deposit contract. 2. **Arrive.** The USDC lands in the Sub-account's Hyperliquid perp account. 3. **Trade.** The Sub-account signs its own Hyperliquid orders, with isolated margin. No contract places the orders and no one holds the key for you. 4. **Close and bring back.** When you close, the money moves from perp to spot, then from Hyperliquid to HyperEVM. 5. **Return.** The Sub-account deposits the money into your main shielded address. The deposit does not say which account receives it. On the way back, the Sub-account may have no HYPE for gas. The app buys a small amount from the GasStation for a flat fee in USDC. You sign that with the Sub-account's key, and the relayer submits it. ## Why a separate account Hyperliquid's contract interface has no action to create accounts or to set margin mode. A contract could hold many users' positions in one account, but they would net into one position with one liquidation price, so one user's loss could affect another's. A separate account for each position keeps each one isolated and under your control. ## Keys A Sub-account key comes from your shielded account's spending key and an index: ``` sub-account key = keccak256(spending key, network context, index) ``` The network context is different on mainnet and on testnet, so your mainnet and testnet Sub-accounts never share an address. You can always recover them from your wallet. The flip side is that anyone who gets your spending key can derive every Sub-account you have made. ## What the app does for you * **A new Sub-account for each position.** The app does not reuse a spent one. Two positions on one address would link to each other. * **Gas arrives safely.** The app never lets a Sub-account receive gas from your own wallet. That would link it to you for good. * **Labels stay on your device.** Names and indexes never leave your device, including in analytics. ## What you can do to stay private * Prefer round amounts. A withdrawal of 1,000 looks like many others. A withdrawal of 1,247.83 stands out. * Choose your own timing. The app does not add a delay, because a forced delay would also slow you down when you need to add margin. * Keep the way you trade varied across Sub-accounts. A steady style in size or timing can link them. * Remember that the return deposit shows an amount. Profit and loss are rarely round numbers. The relayer sees the Sub-account address, the amount and the time. It never sees who you are. ## Costs A Sub-account trade has a relayer fee, a gas fee for the return, and a one-time charge by Hyperliquid on the first transfer out. See [Fees](https://docs.palliora.org/defi/reference/fees.md) for the amounts. ## Next * [Private Sub-accounts SDK](https://docs.palliora.org/defi/build/private-sub-accounts-sdk.md) This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.